STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
BioGaia (STO:BIOG-B) has signed a non-exclusive agreement with Pharma Base SA for the rights to sell BioGaia’s ProTectis Baby Drops in India. Pharma Base will cooperate with a local distributor for the marketing and sales of the drops, which will be sold under BioGaia’s own brand. The registration of the product will start 2014 and the launch is planned to the beginning of 2015.
Pharma Base SA is a Swiss health company founded in 1996. Apart from the headquarters in Switzerland the company has research and development facilities as well as manufacturing plants in India and a sales office in New York. Pharma Base concentrates its efforts on naturally occurring compounds, with glucosamine being their most important ingredient.
Marketing of the BioGaia drops will be focused on the Mumbai region and in the state of Maharashtra.
“India offers a monumental business potential and a huge opportunity for BioGaia drops”, says Harish Parekh, Chairman & President of Pharma Base Group.
BioGaia ProTectis Baby Drops contain BioGaia’s patented and well-researched probiotic strain Lactobacillus reuteri Protectis. Today the drops are sold in around 60 countries.
“For a long time we have tried to find a suitable way to enter the large Indian market. Through the agreement with Pharma Base we have access to a partner with extensive experience in the Indian market and with a proven track record”, says Peter Rothschild, President, BioGaia.
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BioGaia has published this information in accordance with the Swedish Securities Market Act. The information was issued for publication on 17 June 2014, 09:00 am CET.
BioGaia is a healthcare company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health-enhancing effects. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com
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